Aug 1, 2021, 12:53 pm
Last edit by: Dr Jabadski
Note: If you don't have a qualifying investment account, or if your only investment account is an Access Investing account, there is no longer an Engagement Bonus in the first year of having the CashPlus Platinum account.
Recommended step-by-step guide if goal is MS AmEx Platinum card with bonus and effectively no annual fee as of 8/1/21:
- Open MS Access Investing account (to establish the MS relationship) using online application with $5,000.
- Wait a few days.
- Open Platinum CashPlus account (requires existing MS relationship), must be opened by phone or through an advisor, cannot be done online.
- Fund Platinum CashPlus account with $25K.
- Wait a few days.
- Confirm CashPlus account's Account Fee Status page shows “Morgan Stanley Investment Relationship = Yes”.
- Apply for MS AmEx Platinum Card via the link that shows up in the CashPlus account once it's open.
- $5,000 monthly deposit or Social Security deposit in any amount and $25,000 Average Daily Cash Balance in the Bank Deposit Program to avoid Platinum CashPlus Monthly Account Fee.
- Meet minimum spending requirement on the AmEx Platinum card, as of 8/1/21: $6,000 within 6 months to receive sign-up bonus.
- Confirm $695 Annual Engagement Bonus posts to Platinum CashPlus account approximately 6 weeks after credit card approval. (As of 8/1/21, considerable discussion as to whether the FIRST Annual Engagement Bonus is paid within first few months of credit card account opening or at about 1 year after credit card account opening.)
- $1,000+ yearly spending requirement on the AmEx Platinum card needed to avoid having to pay taxes on the Engagement Bonus. (This language was removed from the disclosure statement after the Engagement Bonus was increased to $695.)
- Enjoy the sign-up bonus and all other AmEx Plat perks, don’t eat or drink too much
.
Notes:
All accounts can be opened the same day, best to wait a few days between account openings/applications to ensure each successive account is fully integrated into MS systems to avoid problems.
Few or no reports of MS AmEx Platinum credit card applications being declined for people with Access Investing and Platinum CashPlus accounts, seems once that MS relationship has been established, credit card approval is almost automatic.
The credit card will count toward Chase’s 5/24.
Premier CashPlus not eligible for $695 Annual Engagement Bonus for the MS AmEx Platinum Card.
MS launched Access Investing in December 2017, launched CashPlus in January 2020.
… I’m uncertain as to the requirements and procedures for a thread to have a Wiki(post). As with the New Platinum Card: To-Do List thread, might this thread qualify for a Wiki? Okay mia, you’re on. (Disclaimer: I have never applied for any of these MS accounts ... but I did stay at a Holiday Inn Express once 
.)
.) - Open MS Access Investing account (to establish the MS relationship) using online application with $5,000.
- Wait a few days.
- Open Platinum CashPlus account (requires existing MS relationship), must be opened by phone or through an advisor, cannot be done online.
- Fund Platinum CashPlus account with $25K.
- Wait a few days.
- Confirm CashPlus account's Account Fee Status page shows “Morgan Stanley Investment Relationship = Yes”.
- Apply for MS AmEx Platinum Card via the link that shows up in the CashPlus account once it's open.
- $5,000 monthly deposit or Social Security deposit in any amount and $25,000 Average Daily Cash Balance in the Bank Deposit Program to avoid Platinum CashPlus Monthly Account Fee.
- Meet minimum spending requirement on the AmEx Platinum card, as of 8/1/21: $6,000 within 6 months to receive sign-up bonus.
- Confirm $695 Annual Engagement Bonus posts to Platinum CashPlus account approximately 6 weeks after credit card approval. (As of 8/1/21, considerable discussion as to whether the FIRST Annual Engagement Bonus is paid within first few months of credit card account opening or at about 1 year after credit card account opening.)
- Enjoy the sign-up bonus and all other AmEx Plat perks, don’t eat or drink too much
. Notes:
All accounts can be opened the same day, best to wait a few days between account openings/applications to ensure each successive account is fully integrated into MS systems to avoid problems.
Few or no reports of MS AmEx Platinum credit card applications being declined for people with Access Investing and Platinum CashPlus accounts, seems once that MS relationship has been established, credit card approval is almost automatic.
The credit card will count toward Chase’s 5/24.
Premier CashPlus not eligible for $695 Annual Engagement Bonus for the MS AmEx Platinum Card.
MS launched Access Investing in December 2017, launched CashPlus in January 2020.
Morgan Stanley American Express Platinum Card (2012 - 2021)
Jul 16, 2021, 12:32 pm
#616
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold (BIS), AA LT Plat (CC SUBs & BD), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 3,292
Regarding the credit card. It seems to be a card that could be held (sock-drawered) just to have the benefits. Would inactivity or minimal activity on the MS AmEx Plat card be more or less potentially risky compared to other cards?
Jul 16, 2021, 4:54 pm
#617
Join Date: Dec 2015
Posts: 78
Sounds like she’s doing her job. Assuming you only have an Access Investing account and you don’t want a managed account, then you don’t have to waste her time. You can just call the Virtual Advisor number from your login and they’ll transfer you to someone who will set it up.
Professional advising can be worth the fees if you’re too risk averse to manage your own money. Last year I received a small bit of inheritance, but I kept it in cash and missed the big recovery. Lost out on a 50% gain, but I did avoid an AUM fee. If I fail to hold and buy more when the next crash comes, I’m going to hire a pro
Professional advising can be worth the fees if you’re too risk averse to manage your own money. Last year I received a small bit of inheritance, but I kept it in cash and missed the big recovery. Lost out on a 50% gain, but I did avoid an AUM fee. If I fail to hold and buy more when the next crash comes, I’m going to hire a pro
Jul 16, 2021, 4:57 pm
#618
Join Date: Dec 2015
Posts: 78
i have a platinum card now, not the ms version obviously, and it's not my daily card but with all the offers/benefits on the card, you should at least have monthly activity.
Jul 17, 2021, 5:14 am
#619
Join Date: Apr 2002
Posts: 587
Happy to report that my first annual engagement bonus posted on 7/15 ! The whole process took a bit over 2 months from start to finish in my experience.
Jul 17, 2021, 3:29 pm
#620
Join Date: Dec 2019
Posts: 13
Good evening. I have a CashPlus Platinum Account and I am trying to open an Individual Basic Securities Account (BSA) but MS is giving me the run around. I know that I cannot open an Access Direct account as my employer doesn't use MS for our 401K program, but the Basic Securities Account only carries a $50 annual fee, which I would be willing to pay versus the $150 annual fee of the Active Assets Account (AAA). After going through a couple of Access Investing Accounts, I am no longer interested in sticking the $5K in them just to have them tie up unnecessary monies and still underperform the market. I figure I can just pay the $50 fee annually and just leave it empty or even place a few long term trades in it if the mood hits me. Any insight would be appreciated. Thanks.
Last edited by Osiris1881; Jul 30, 2021 at 8:41 pm
Jul 17, 2021, 8:54 pm
#622
Join Date: Apr 2002
Posts: 587
Thanks. It was a process, but went smoother than I originally anticipated because I didn’t need to call in a number of times to get the accounts linked to the same ALG. Worth it in the end.
Last edited by steve4; Jul 18, 2021 at 5:03 am
Jul 18, 2021, 7:17 pm
#623
Join Date: Oct 2019
Programs: MR, UR
Posts: 10
Has anyone had success opening an access direct/self direct account? The access investing account is decent but I'd like more control
Last edited by emgqrrpg; Jul 18, 2021 at 7:31 pm
Jul 18, 2021, 7:34 pm
#624
Join Date: Dec 2019
Posts: 13
That account is restricted to the individuals whose employer uses the MS StockPlan Connect or Shareworks platforms. Basically if your employer grants stock to you through MS, then you can open up an Access Direct account as a companion to your StockPlan Account. Otherwise it is unavailable to everyone else. All that is available to the rest of us are the AAA for $150 annually and the Access Investing platform as noted previously.
Jul 18, 2021, 7:53 pm
#625
Join Date: Oct 2019
Programs: MR, UR
Posts: 10
That account is restricted to the individuals whose employer uses the MS StockPlan Connect or Shareworks platforms. Basically if your employer grants stock to you through MS, then you can open up an Access Direct account as a companion to your StockPlan Account. Otherwise it is unavailable to everyone else. All that is available to the rest of us are the AAA for $150 annually and the Access Investing platform as noted previously.
Jul 19, 2021, 12:10 am
#626
Suspended
Join Date: Feb 2004
Posts: 4,188
I will be moving from Charles Schwab Amex to Morgan Stanley Amex. I wonder if I should get the MS card before I cancel my CS card. Any advice?
Jul 19, 2021, 7:42 am
#627
Join Date: Jul 2004
Location: NYC
Programs: DL PM, DL MM
Posts: 4,246
Have had a regular PLT card for years...AMEX said they cannot convert by platinum card to a MS card - I would have to open a new one.
If I open a new one, what would show up on my credit report as the account open date? I opened a DL AMEX card and that has the account opening date as the date I opened my PLT card eventhough the DL card was opened much much later.
If I open a new one, what would show up on my credit report as the account open date? I opened a DL AMEX card and that has the account opening date as the date I opened my PLT card eventhough the DL card was opened much much later.
Jul 19, 2021, 7:46 am
#628
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,956
Amex no longer backdating new accounts to credit bureaus?
Jul 19, 2021, 8:08 am
#629
Join Date: Jul 2004
Location: NYC
Programs: DL PM, DL MM
Posts: 4,246
2021. American Express no longer backdates new accounts when reporting to credit bureaus.
Amex no longer backdating new accounts to credit bureaus?
Amex no longer backdating new accounts to credit bureaus?
Jul 19, 2021, 9:29 am
#630
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,956